Technical analysis

HP Wave Analysis 3 December, 2020

HP Wave Analysis 3 December, 2020

• HP reversed from support level 22.00

• Likely to rise to 24.00

HP previously reversed up from the key support level 22.00 (former resistance from March – acting as support after this price was broken by the previous impulse wave (1)).

The upward reversal from the support level 22.00 started the active medium-term impulse wave 3.

Given the overriding uptrend – HP is expected to rise further toward the next resistance level 24.00 (former monthly top from February intersecting with the wide daily up channel from May).

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